Oil production at the ACG block decreased by 2.5%

Baku. 15 August. REPORT.AZ/ In the first half of 2014 from the "Azeri-Chirag" block (ACG) 16 mln tons of oil (118.8 million barrels) extracted. Compared to the same period last year, oil production at ACG reduced by 2.5%. According to the BP in the first half of 2014, oil production was carried out on the platforms "Chirag", "Central Azeri", "West Azeri", "East Azeri", "Deepwater Gunashli" and "West Chirag".

Average daily oil production on the platform "Azeri-Chirag" in the first half of this year amounted to 656.1 thousand barrels.

From the offshore production platform "Central Azeri" average daily production amounted to 167.6 thousand barrels, "Chirag" - 65.8 thousand barrels, "East Azeri" - 83.2 thousand barrels, "West Azeri" - 165.1 thousand barrels, "Deepwater Gunashli" - 148.5 thousand barrels and "West Chirag" - 29.9 thousand barrels.

Operation of the production platform "West Chirag" was launched in 2014. At the present time it operated with 4 wells and daily oil production by now increased to 50 thousand barrels. There are 28 wells on the platform. As the commissioning of these wells, oil production from the platform will increase.

It is also noted that in the first half of 2014 in the framework of the ACG project operating expenses amounted to 479 million dollars and capital expenditure - 1.231 billion dollars.This year, the project provided 1.052 bln dollars in operating expenses and 2,068 bln dollars of capital expenditure.

During 2013 on the block ACG 32.2 million tons (average 655.37 thousand bpd) was produced.

Average daily oil production from the platform "Chirag" for the year was equal to 69.67 thousand barrels, "Central Azeri" - 151.76 thousand barrels, "West Azeri" - 188.16 thousand barrels, "East Azeri" - 106.7 thousand barrels, "Deepwater Gunashli" - 139.08 thousand barrels. Equity participation of companies in the ACG project is as follows: BP - 35,8% (operator), SOCAR (11,65%), Chevron - 11,27%, Inpex - 10,96%, Statoil (8,56%), ExxonMobil (8,0006%), TPAO (6,75%), Itochu (4,3%) and ONGC Videsh Ltd. (2.72%).